Soul Pattinson Sees Solid Earnings Growth in Fiscal 2019 from Coal and Property
Soul Pattinson’s profit is like a duck swimming, smooth on the surface but a lot of activity below the surface. First-half fiscal 2019 net profit after tax, or NPAT, of AUD 179 million included some meaningful losses from associate impairments and gains from asset sales. Adjusted NPAT tax rose 12% to AUD 187 million. At the segment level, the key drivers of the increase were New Hope and Brickworks. Soul Pattinson’s share of New Hope’s adjusted profit was up 27% to AUD 82 million, driven by a 22...Washington H. Soul Pattinson and Company is engaged in the ownership of shares; coal mining; gold and copper mining and refining; property investment; and consulting. Co.'s operating segments are: Investing activities, which invests in cash, term deposits, and equity investments; Energy, which engages in coal, oil and gas activities; Copper and Gold operations, which engages in copper and gold mining activities which includes exploration, mining and processing of ore into copper concentrate, copper sulphide and gold; Corporate advisory, which provides corporate advisory services; as well as Property, which engages in property investment activities.
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